Ammonia Market, Led by APAC, to Reach $ 68 Billion by 2025 | TechSci Research
by TechSci Research Market Research ReportsAccording to TechSci Research
report, “Global Ammonia Market By Grade,
By Application, By Manufacturing Process, By Region, Competition,
Forecast & Opportunities, 2025”, the global ammonia market is forecast
to reach $ 68 billion by 2025 owing to increasing demand from chemicals,
fertilizers and pharmaceutical industries. Growing global fertilizer industry
is expected to continue augmenting demand for ammonia over the next five years.
However, global lockdown due to onset of COVID-19 has resulted in disruptions
in the entire supply chain and decline in demand across major end use
applications, globally, which is expected to negatively affect ammonia
consumption in 2020.
Browse 111 market data Figures
spread through 110 Pages and an in-depth TOC on "Global Ammonia Market”.
https://www.techsciresearch.com/report/ammonia-market/4745.html
The global ammonia market is
segmented based on grade, application, manufacturing process, and region. Based
on grade, the global ammonia market is bifurcated into Anhydrous and Aqueous
segments, of which Anhydrous holds the majority share due to its high demand in
fertilizer market on account of its ease of availability and lower cost. Based
on Application, the market can be fragmented into Fertilizers, Chemicals,
pharmaceuticals, Electronics, Refrigeration, Household, Food, and Others.
Fertilizers segment is expected to continue its dominance during the forecast
period since nitrogen-based products are abundantly used in agriculture sector,
globally. Region wise, APAC is likely to dominate the global ammonia market
over the next five years, majorly due to high consumption in China and India.
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COVID-19 pandemic is having a
significant impact on the global demand scenario for ammonia, at least in the
near term. Lockdown measures across the globe are negatively affecting the
global fertilizer industry, which is resulting in declining demand for ammonia.
This is expected to translate into negative growth of the global ammonia market
in 2020. Nevertheless, with rising inclination towards opening up economies,
demand for ammonia is forecast to witness revival and grow over the next five
years.
Major players operating in the
global ammonia market include CF Industries Holdings, Yara International,
Nutrien Fertilizer, OCI NV, Ostchem Holdings, Ma’aden Phosphate, Mosaic Crop
Nutrition, Eurochem Group AG, among others. “Global ammonia market is
witnessing steady growth and is expected to continue rising in the coming years.
Market growth is anticipated on account of growing agriculture sector, majorly
in Asia-Pacific, which will result in higher consumption of fertilizers, and
consequently ammonia in the foreseeable future. Moreover, growing chemicals and
pharmaceuticals sectors are also expected to positively influence the global
ammonia market in the medium to long term.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Ammonia Market By
Grade, By Application, By Manufacturing
Process, By Region, Competition, Forecast & Opportunities, 2025” has
evaluated the future growth potential of Ammonia market and provides statistics
& information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in the global ammonia market.
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Created on Dec 18th 2020 01:19. Viewed 280 times.